World’s Billionaires See USD2.5T Surge in Their Wealth
Oxfam's most recent analysis characterizes this era as a "Billionaire's decade," underscoring how astronomical fortunes multiply at breakneck speed even as approximately fifty percent of humanity remains impoverished and a quarter of Earth's inhabitants lack consistent access to adequate nutrition.
For the first time in history, billionaire ranks have swelled to 3,000 individuals, the research confirms.
The investigation further explores how ultra-wealthy elites increasingly leverage political clout and control over information channels to mold economic systems and social structures to their advantage.
"Almost half of people surveyed in 66 countries say that 'the rich often buy elections' in their country," Oxfam reported, identifying this perception as a catalyst for widespread public demonstrations.
"Extreme wealth is increasingly translating into political power, with billionaires estimated to be 4,000 times more likely to hold political office than ordinary citizens," the organization emphasized.
Authorities are countering the ensuing social upheaval by restricting fundamental freedoms, the humanitarian group warned.
"Tens of millions of people, feeling trapped in poverty and powerless to influence the system, are taking to the streets but they are met with authoritarian measures," the report stated.
Oxfam is pressing world leaders to act swiftly to dismantle this pattern through addressing extreme economic disparity, protecting democratic institutions, and upholding human rights.
Recommended measures encompass imposing levies on extreme wealth, reinforcing regulations governing lobbying activities and electoral financing, and guaranteeing that average citizens and advocacy groups can mobilize, demonstrate, and voice concerns without intimidation, the organization specified.
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